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15 MARKS ABC Enterprises has provided the following estimates relating to the first quarter of 2018: Cash sales $46,000 Credit sales 92,400 Receipts from debtors
15 MARKS
ABC Enterprises has provided the following estimates relating to the first quarter of 2018: Cash sales $46,000 Credit sales 92,400 Receipts from debtors 71,500 Wages paid 54,000 Office furniture purchased in cash 12,600 Purchase of office computer on credit 2,000 Utilities expenses paid 3800 Administrative expenses paid 14,100 Depreciation on office furniture 315 Received of loan 15,000 Credit purchase 65,600 Payments to creditors 52,900 The cash balance first January 2018 $11,250 Required: prepare a cash budget for the quarter ending 31st March 2018Step by Step Solution
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